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Mergers between Chinese Shipbuilders Threaten S. Korean Mid-size Firms

A series of mergers between Chinese shipbuilders are threatening South Korean mid-size companies which are already struggling to survive. The mergers are a favorable development for winning China’s approval of the proposed merger between Hyundai Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. (DSME), but medium-sized Korean shipyards are concerned that they could lose deals to build oil tankers to Chinese companies as they did for bulk carriers. China’s two largest dockyards – China CSSC Holdings Ltd. (CSSC) and China Shipbuilding Industry Corp. (CSIC) – submitted an application ...

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Bangladesh scraps record 156 ships in 6 months despite concerns

Bangladesh has become the top dumping ground for discarded ships in the world with the country dismantling the highest number of vessels in the first half (January-June) of the current year, according to a report of the NGO Shipbreaking Platform, a leading NGO coalition campaigning for clean and safe ship recycling. The latest figures released by the platform showed that there were a total of 374 ships broken in the first half of 2019 and of those, highest 156 vessels were broken in Bangladesh causing irreversible damages to both human ...

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China maintains top position in global shipbuilding industry in H1

China’s accomplished shipbuilding output in the first half of this year stood at 19.66 million deadweight tonnes, up 4.2 percent year on year, according to the Ministry of Industry and Information Technology. Over the same period, China received 51.8 percent of global new orders and held 42.9 percent of the existing orders, cementing the country’s leading role in the sector. In 2018, China took 43.9 percent of global new orders and held 42.8 percent of the existing ones. Given a lackluster global economy, however, the shipbuilding industry still faces grim ...

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China’s New Shipbuilding Giant to Challenge Global Leader After Blockbuster Merger

After two decades of charting separate courses, China’s two state-owned shipbuilding heavyweights look set to join wakes once more as part of the government’s drive to consolidate the state sector. Subsidiaries of China State Shipbuilding Corp. Ltd. (CSSC) announced in various filings that their parent is planning a restructuring that will result in its merger with China Shipbuilding Industry Corp. (CSIC). The announcement was made on July 1 — 20 years to the day that the two companies said they would split. The pair’s shipbuilding empires accounted for 49% of ...

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Keppel nets profit of S$356m for 1H 2019

Keppel Corporation Limited (Keppel) reported a net profit of S$356 million for the half year ended 30 June 2019, 39% below the S$586 million achieved a year ago, mainly due to lower contributions from en-bloc sales of property projects which amounted to S$416 million in 1H 2018. Compared to 1H 2018, the six months of 2019 saw improved performance at Keppel Offshore & Marine which returned to profitability, higher contributions from M1 following the consolidation of its results with the Group, as well as strong earnings growth at Keppel Infrastructure ...

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Moby names Damen ASD Tug 2813 Vincenzino O. in Cagliari

On 18 July 2019, Moby held a naming ceremony for their new Damen ASD Tug 2813, Vincenzino O. in Cagliari as part of the company’s plans to upgrade its fleet. Moby’s CEO Achille Onorato says: “We are very proud to welcome this new tug to our fleet. The vessel, which carries the name of my son, Vincenzino O., introduces the sixth generation of our family to the sea and is a clear demonstration of our commitment to the community of Sardinia. We have enjoyed an excellent cooperation with Damen in ...

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S. Korea’s 3 Shipbuilders Achieve Subpar Results in the First Half of 2019

South Korean shipbuilders’ performance in the first half of this year is not up to the mark. The amount of new shipbuilding orders they won in the first six months of the year fell short of half of their yearly goals. The poor performance is attributed to a drop in the amount of new shipbuilding orders. Global shipbuilding orders totaled 10.26 million CGTs in the first half, down as much as 42 percent from a year ago, according to data from Clarkson Research, a U.K. analyst of the shipbuilding industry. ...

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Hyundai Heavy’s labor union approves strike over stalled wage talks

Unionized workers at Hyundai Heavy Industries Co., the world’s largest shipyard by sales, voted on Wednesday to go on strike amid a lack of progress in wage negotiations. The labor union said nearly 60 percent of unionized workers approved a work stoppage, raising the possibility that work at the world’s largest shipyard may be disrupted for the sixth year in a row. The union demanded a pay raise that includes marking up the basic pay by some 123,000 won (US$104) and higher performance-based pay. The labor union has staged sporadic ...

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Keppel secures contracts from repeat customers worth around S$130 million

Keppel Offshore & Marine Ltd (Keppel O&M) has through its wholly-owned subsidiaries, Keppel FELS Limited (Keppel FELS) and Keppel Shipyard Ltd (Keppel Shipyard), secured contracts from repeat customers worth approximately S$130 million for a newbuild dredger and the modification of a Floating Production Storage and Offloading vessel (FPSO). Mr Chris Ong, CEO of Keppel O&M, said, “We are pleased to secure these contracts from repeat customers as it reflects the market’s confidence in Keppel O&M’s customised solutions for newbuild vessels and FPSO conversions. This is the third newbuild dredger for ...

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New CSBC barge begins operations, eyes wind power business

A large barge built by CSBC Corp., Taiwan, the largest local shipbuilder, departed on its maiden voyage Monday, as part of the company’s efforts to attract business from offshore wind power developments. In a ceremony to celebrate the departure of the barge, named CSBC No. 15, CSBC President Tseng Kuo-cheng (曾國正) said the vessel, which is expected to carry wind turbines, is able to work in coastal areas of Taiwan, where the country is seeking to develop wind power farms in an effort to boost renewable energy. Tseng said the ...

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Colombo Dockyard Delivers Cable Laying Vessel To Japanese Owner

Colombo Dockyard PLC has delivered a modern Cable Laying Vessel to Kokusai Cable Ship Co. Ltd. (KCS). The vessel is the first to be built ‘in its class’ by a Sri Lankan company for a Japanese owner. After leaving the Colombo Dockyard, KDDI Cable Infinity successfully reached the Yokohama port, Japan on July 7, 2019. At 113.1 meters in length, 21.5 meters in breadth and 8.8 meters in depth, KDDI Cable Infinity is the largest vessel constructed by Colombo Dockyard to-date. KDDI Cable Infinity has a deadweight carrying capacity of ...

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S. Korean Shipbuilders Have Half of Ultra Large Container Ship Order Backlogs

South Korean shipbuilders are leading the ultra large containership market as well as liquefied natural gas (LNG) carrier. Daewoo Shipbuilding and Marine Engineering Co. (DSME) is planning to deliver one of five 23,000 TEU containerships ordered by Swiss-based shipping line Mediterranean Shipping Co. (MSC) in September 2017 on July 19, according to DSME on July 14. This is the same size with the world’s largest containership built by Samsung Heavy Industries Co. and delivered to MSC earlier. Previously, MSC placed an order for 11 vessels – six with Samsung Heavy ...

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Hanjin shipyard can become a major global port — Lopez

The 300-hectare shipyard of Hanjin Philippines may be taken over by several shipping companies that would transform it into a major global port, Trade Secretary Ramon Lopez said in a chance interview recently. He said the shipyard could be a sprawling multipurpose mixed-use port facility that would be jointly operated by several players. This, he said, is one of the proposals received by Hanjin creditors for the development of the shipyard after Hanjin Philippines declared bankruptcy early this year. “It’s a good masterplan that has been proposed and it is ...

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Chevron’s top officials meet with 3 Korean shipbuilding majors

Executives from the U.S. oil major Chevron are visiting South Korea to discuss mutual business concerns with the country’s three top shipbuilders and seek cooperation with them in potential projects, raising hopes for more lucrative orders in bulk, oil and gas carriers as well as offshore platforms where Korea has strong competitiveness against Chinese and European rivals. A group of presidents of Chevron subsidiaries led by Joseph Geagea, Executive Vice President of the U.S. oil major, started their two-day visit to Korea’s top shipbuilders on Thursday, the company said. On ...

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DSME Smart Ship Solution approved by LR.

Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME) has received approval in principle (AiP) from LR for its Smart Ship Solution (DS4®). The fleet monitoring smart ECDIS and surveillance system has been granted the descriptive note ‘Digital AL3 SAFE SECURITY’, confirming compliance with LR’s digital ships requirements. The Digital SAFE descriptive note confirms that systems which are essential for ship operation, and that have remote access to onboard operational data for analysis, decision-making and control, have been assessed in accordance with LR’s Digital Ships ShipRight Procedure. The SECURITY descriptive note ...

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